62,991 Shares in Brunswick Co. (NYSE:BC) Acquired by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in shares of Brunswick Co. (NYSE:BC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 62,991 shares of the company's stock, valued at approximately $5,280,000. Verition Fund Management LLC owned 0.10% of Brunswick as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Brunswick by 17.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company's stock valued at $259,010,000 after purchasing an additional 452,116 shares in the last quarter. Baillie Gifford & Co. grew its stake in Brunswick by 88.0% in the second quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company's stock worth $176,903,000 after purchasing an additional 1,137,568 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Brunswick by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company's stock worth $152,577,000 after purchasing an additional 144,416 shares in the last quarter. American Century Companies Inc. boosted its stake in Brunswick by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company's stock worth $106,337,000 after purchasing an additional 57,605 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Brunswick by 13.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company's stock valued at $118,563,000 after acquiring an additional 168,384 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BC. Citigroup raised their target price on shares of Brunswick from $92.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, September 27th. B. Riley downgraded Brunswick from a "buy" rating to a "neutral" rating and lowered their target price for the company from $95.00 to $88.00 in a research report on Tuesday, November 26th. Finally, Benchmark reiterated a "buy" rating and set a $100.00 price objective on shares of Brunswick in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brunswick currently has an average rating of "Moderate Buy" and a consensus target price of $88.54.

Brunswick Price Performance

Shares of BC stock traded down $0.44 on Tuesday, reaching $79.47. 620,010 shares of the company were exchanged, compared to its average volume of 464,443. Brunswick Co. has a 1 year low of $69.05 and a 1 year high of $99.68. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 19.77 and a beta of 1.50. The business has a 50-day moving average price of $81.71 and a 200 day moving average price of $78.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, November 20th. Brunswick's dividend payout ratio is currently 41.79%.

Insider Activity

In other Brunswick news, Director Joseph W. Mcclanathan sold 4,745 shares of the company's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the transaction, the director now directly owns 19,218 shares in the company, valued at $1,540,130.52. This represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares of the company's stock, valued at $1,969,225.83. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock worth $2,321,176 over the last ninety days. Corporate insiders own 0.81% of the company's stock.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.